The Power of Visual Content: How Influencers Are Transforming Retail Sector?
Influencer marketing has grown to be an effective strategy for companies in a variety of sectors, and when done correctly, the connections that brands can forge with influencers can be invaluable assets. By posting original, and sometimes sponsored, content to social media platforms, influencers can have a significant impact on the purchasing behaviours of their followers. According to the Influencer Marketing Hub, the sector's revenue will reach $16.4 billion in 2022. The report further highlights that in 2023, this amount is projected to increase to $21.1 billion.
However, it's understandable if retailers take a while to recognise the real benefit of working with influencers. This is especially true considering that using influencers to drive foot traffic to your stores and boost in-store sales is not as simple to increase sales as, say, using visual merchandising. Influencers, whose social media posts on products and companies are viewed and acted upon by their followers, are a clear fit for e-commerce and online buyers. Their target demographic is online and just a click away from making a purchase on an e-commerce website. Therefore, it is crucial to transform that online interest into in-person traffic as consumers continue with their purchasing in person.
The key to using influencers to increase retail sales is finding the right kind of influencer to work with first. Following that, using strategies like visual merchandising, customer service, and branded surroundings to increase visitors to your stores can take over to close the purchase.
The Rise Of The Influencer Economy
There has been a significant upsurge in the total number of people who can make a living through social media in recent years. This is largely due to the fact that numerous social media platforms have gained enormous popularity and made it possible for users to easily access a wide audience. Here, the influencer economy has several advantages. One benefit is that it gives people a chance to make money doing what they like. People can also connect with individuals who share their interests through it. Furthermore, the influencer economy also makes it possible for companies to reach a larger audience than could through conventional marketing channels.
Visual Storytelling
Retail sometimes appears to be caught up in price battles, delivery delays, or even in-store technology. This kind of competition inevitably results in a gap between huge brands that can afford to reduce costs or offer delivery in an hour and absorb any sort of blow from that and smaller retail enterprises that can't maintain endless deals and cost-cutting. Thus, focusing on building strong relationships with customers is a much better strategy for retailers. If you have a close connection with a brand, then it is more difficult to be convinced to switch to another brand or retailer by a single offer.
Furthermore, making relationships with your audience through storytelling is an effective way to communicate your brand's values. The best way to engage and retain customers is by communicating, whether it's letting them know who you are, what you stand for, where your products originate from, and what goes into them. According to a HubSpot analysis of consumer trends, 31% of social media users are more interested in finding out about new products from an influencer they follow than another method or channel. Your brand may benefit from being more approachable. When done well, it may educate, entertain, and interest viewers, helping to forge lasting impressions of a brand in their minds.
The Impact on Consumer Behaviour
Significant shifts in consumer behaviour can be sparked by influencers. They are extremely compelling due to their capacity for producing interesting visual material and sharing personal stories. Their followers are more inclined to consider making a purchase when influencers endorse a product or talk about their great experiences with it. For instance, a new clothing line's sales may increase as a result of a fashion influencer highlighting it. Similarly, a tech influencer who reviews the most recent products can have an impact on their followers' purchase decisions. Customers can better see how the product fits into their daily lives because of the visual aspect of the content.
Measuring ROI and Effectiveness
Influencer marketing has proven successful in more ways than one. Brands may monitor the effects of influencer partnerships using a variety of measures, including engagement rates, click-through rates, and conversion rates. These data-driven insights enable firms to assess the ROI and efficiency of their influencer marketing operations. In these measurements, visual content is key. High-quality photos and videos often result in greater engagement and more successful outcomes. Thus, to create more successful and efficient campaigns, brands can study the sorts of visual content that connect with their target audience the most.
Visual Revolution in Retail
Influencers are currently leading the way in retail marketing, bringing in a new era of transparency and visual storytelling. Consumer behaviour and brand engagement have been transformed by their capacity to cultivate trust through real, relatable content. Furthermore, influencers' honest experiences and visual attraction will likely play a crucial part in the industry's further growth as they continue to impact the retail environment. Hence, retailers can't afford to overlook the effect that influencers can have on their visual content.
(Yulia Aslamova is the Head of Asia of DRIM Global)
